Significant performance in 2 years, How Bank ABC indicators developed after BLOM's acquisition

After ABC's acquisition of BLOM Egypt, the bank witnessed a remarkable transformation in its performance, benefiting from the strengthening of its position in the Egyptian banking market, after the acquisition contributed to the collection of the best banking services supported by a larger network of branches and ATM devices which expanded its customer base.

The acquisition of the Bank's financial performance indicators has been positively reflected in a marked development in its key financial indicators over the past two years, reflecting its ambitious strategy to strengthen its position as a major player in the Egyptian banking sector.

Asset portfolio The volume of the bank's asset portfolio has risen significantly, after registering growth of 405.18% and an increase of 66.8 billion pounds over the past two years, reaching 83.3 billion pounds by the end of 2024, compared with 16.5 billion by the end of 2022.

The growth in the asset portfolio was underpinned by the expansion of the Bank's various businesses and investments, enabling the Bank to diversify its assets by focusing on promising sectors and thoughtful investments, thus enhancing the stability of its financial portfolio.

Loan portfolio The total portfolio of customers' loans in the Bank has grown considerably, rising by 528.06% during the period under analysis, to register about 33.3 billion pounds by the end of 2024, compared to 5.3 billion by the end of 2022.

This is due to the Bank's focus on expanding the provision of loans to large enterprises, especially the injection of more direct loans to companies, as well as the introduction of a number of flexible financing programs to suit different customer needs.

Deposit Wallet At the deposit level, the bank benefited from an increase in the confidence of its customers after the acquisition, reflected in an increase in the volume of its deposits at a growth rate of 402.06% and an increase of about 55.42 billion pounds during the period under analysis, reaching 69.2 billion pounds by the end of 2024, compared to 13.78 billion by the end of 2022.

Net profits In terms of net profits, ABC Egypt achieved a net profit of 2.065 billion pounds in 2024, compared to 62.175 million in 2022, with a growth rate of 3221% and an increase of over 2 billion pounds, reflecting the bank's strong performance and successful business management strategy.